Elon Musk says there are similarities between the Silicon Valley Bank crisis and the 1929 Wall Street crash
In late October 1929, theMusk's warning clashes with most of Wall Street's top names, who've said that SVB's collapse won't trigger a similar stock market rout to the financial crisis of 2008 – let alone the great crash of 1929.
letter to the firm's clients"In other words, they don't threaten the whole system and should not lead to endless contagion, as long as we remain calm, acknowledge the problems are very serious and capable of spiraling out of control, and deal proactively and aggressively in a smart, immediate and targeted manner," he added.
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Elon Musk says he's 'open to the idea' of buying Silicon Valley Bank - AutoblogOne Tesla shareholder feared the Twitter and Tesla CEO might sell 'another $20 billion worth of $Tesla stock' to help finance a purchase.
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Biden: 'No one is above the law' in Silicon Valley Bank crashBiden says taxpayers won't bail out Silicon Valley Bank and the people responsible for its collapse will be held accountable: 'No one is above the law'
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Warren Calls for Clawing Back Pay, Bonuses for Silicon Valley Bank ExecutivesThe senator also demanded a federal investigation into potential insider trading by executives.
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Federal Reserve says it will conduct review of Silicon Valley Bank failureThe Federal Reserve will conduct a review of the collapse of Silicon Valley Bank — including any possible regulatory or supervisory missteps — with results to be publicly released by May 1, the central bank said.
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Regulators may still try to find a buyer for Silicon Valley Bank, source saysThere's still an opportunity to sell Silicon Valley Bank according to the official, saying that's not off the table.
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